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What is the cost of goods sold for the current year

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Problem - Serbia Company, a retailer, sells goods in its own warehouse, and also transfers goods to selected consignees. It provided the following for the current year:

CENTRAL WAREHOUSE

Beginning inventory 1,100,000

Purchases 4,800,000

Freight in 100,000

Freight out 300,000

Ending inventory 1,450,000

OUT ON CONSIGNMENT

Beginning inventory 120,000

Purchases 600,000

Transportation to consignees 50,000

Ending inventory 200,000

Required - What is the cost of goods sold for the current year?

Reference no: EM133035804

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